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Rich Asplund

Cocoa Prices Fall on Strength in the Dollar and British Pound

Ice ICCO British Pound European Union Ivory Coast London the International Cocoa Organization

March ICE NY cocoa (CCH26) on Thursday closed down -18 (-0.33%), and March ICE London cocoa #7 (CAH26) closed down -49 (-1.22%).

Cocoa prices settled lower on Thursday. A rebound in the dollar weighed on NY cocoa prices after the dollar index (DXY00) on Thursday recovered from a 5-week low and turned higher. London cocoa was under pressure after the British pound (^GBPUSD) climbed to a 5-week high, undercutting cocoa priced in sterling.

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